Pizza Hut to close 68 UK restaurants, putting up to 1,200 jobs at risk

"The deal will save 64 Pizza Hut sites in the UK and secure the future of 1,277 workers, the company said. Those sites will be owned directly by Yum. The closures come only nine months after the purchase of the UK Pizza Hut franchise by Directional Capital, a US private equity firm that already operated Pizza Hut restaurants in Sweden and Denmark. Directional claims to manage more than $5bn (3.7bn) in assets, with a focus on mid-market companies that need to raise cash."

"Pizza Hut opened its first UK restaurant in London's Islington in 1973. Staff numbers at the company rose to more than 14,000 in 1999, and it counted nearly 700 locations by 2006. However, it has struggled in recent years, as casual dining chains have faced stiff competition to attract hard-pressed consumers suffering the effects of inflation on their disposable incomes. Pizza Hut survived the Covid pandemic lockdowns albeit while closing 29 branches only to be hit by higher costs such as rising energy bills,"

Pizza Hut will close 68 UK restaurants, putting up to 1,200 jobs at risk after DC London Pie entered administration and appointed FTI administrators. Eleven delivery-only sites will also close. Yum! Brands bought the remainder of the UK operation in a pre-pack administration, saving 64 sites and securing 1,277 workers; those sites will be owned directly by Yum. Directional Capital bought the franchise nine months earlier. Pizza Hut opened in Islington in 1973, expanded to nearly 700 locations by 2006, and has struggled recently amid inflation, higher costs, post-Covid branch closures and increased taxes. HMRC filed a winding-up petition on 11 September.

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